Working paper
Irreversible Investment and the Expected Capital Stock with Stationary Uncertainty.
- Abstract:
- The paper analyses irreversible investment under stationary uncertainty in a competitive sector. It is shown that while future uncertainty reduces the desired capital stock, over time the expected actual capital stock is higher under uncertainty with irreversibility.
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Bibliographic Details
- Publisher:
- CSAE (University of Oxford)
- Series:
- Working Paper Series
- Publication date:
- 1997-01-01
Item Description
- Language:
-
English
- UUID:
-
uuid:de3b34c9-2ce4-44b8-a188-22e33f882125
- Local pid:
-
oai:economics.ouls.ox.ac.uk:12596
- Deposit date:
-
2011-08-15
Terms of use
- Copyright date:
- 1997
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